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VA Due Dates And Repairs

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EagleBend

Freshman Member
Joined
Mar 7, 2016
Professional Status
Licensed Appraiser
State
Montana
I have a VA assignment that is due Feb 27, the lender called today asking if I could submit the report by Feb 16, telling me if they don't receive the report by then they will lose the loan or something in that matter. Why is that my problem. The VA requires the report to be submitted by a certain date am I obligated to get the report in 2 weeks before the due date because the loan officer messed the order date up. The property also needs a handrail installed and the loan officer wanted to know a list of repairs before the report is submitted so they can get started on them I'm ok with that however I forgot about the handrail needed and just now told her she's getting mad at me. Do I have to tell the lender a list of repairs before the report is submitted?
 

EagleBend

Freshman Member
Joined
Mar 7, 2016
Professional Status
Licensed Appraiser
State
Montana
Sorry I'm new to this I was not sure if I post it in the FHA VA discussion or this Urgent help needed section.
 

Kitarkus

Junior Member
Joined
Nov 15, 2006
Professional Status
Certified Residential Appraiser
State
Kansas
I have a VA assignment that is due Feb 27, the lender called today asking if I could submit the report by Feb 16, telling me if they don't receive the report by then they will lose the loan or something in that matter. Why is that my problem. The VA requires the report to be submitted by a certain date am I obligated to get the report in 2 weeks before the due date because the loan officer messed the order date up. The property also needs a handrail installed and the loan officer wanted to know a list of repairs before the report is submitted so they can get started on them I'm ok with that however I forgot about the handrail needed and just now told her she's getting mad at me. Do I have to tell the lender a list of repairs before the report is submitted?

It's not your 'problem'. I do, however, make every attempt to accommodate my Client's requests so long as their requests do not impede my ethics, USPAP, or my general ability to complete my job in a professional and businesslike manner.

You indeed have 10 days per VA to complete a VA assignment.....not including business days or Federal Holidays like President's Day. If my schedule allowed and it isn't too much trouble...I would make every effort to accommodate the Lender/Cient with a rush order. I work on President's Day :)....and some weekends too if Client demand necessitate :)
You were very kind to enlighten the Lender of your MPR's in advance...and it got you in a bit of trouble...no no. You could gently remind them that you are making a concerted effort to accommodate their special request for a faster than typical VA turnaround...that you are doing the best that you can....and estimate your date of completion.

Kindness and 'going the extra mile' will usually get you further in the long run. If you prefer...you could tell them to 'pound sand'....and force them to wait 10 biz days to receive your document. Your choice I s'pose. I seem to gain business by 'going the extra mile' whenever I possibly can. Don't bend the rules...agree with below...you can't issue the MPR's unless/until uploaded to VA in the Report. Special requests are great if you can accommodate them...and if they don't conflict with ethics, USPAP, and in this case the VA Handbook.
 
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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Let the SAR or VA decide the repairs. Follow the VA lender handbook. Don't tell them the repairs until the NOV tells them. The NOV can't be issued til you send the report.

Now, nothing wrong with trying to find out needed repairs through the parties that you may not be aware of. The lender can pound sand. Don't discuss value either with anybody but the SAR or VA.

Don't be late in submitting the report. :)
 
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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
My bad. You can discuss value with anybody. Just don't discuss your opinion of value. Obviously if you do a tidewater to the POC, that is value related. If somebody don't like your opinion of value after the appraisal is submitted, then don't discuss that with anybody except the VA or the SAR.

That is pretty much USPAP. VA just puts it through themselves or the SAR.
 
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Kitarkus

Junior Member
Joined
Nov 15, 2006
Professional Status
Certified Residential Appraiser
State
Kansas
My bad. You can discuss value with anybody. Just don't discuss your opinion of value. Obviously if you do a tidewater to the POC, that is value related. If somebody don't like your opinion of value after the appraisal is submitted, then don't discuss that with anybody except the VA or the SAR.

That is pretty much USPAP. VA just puts it through themselves or the SAR.

Tidewater is not specifically a value related discussion....at least not a detailed discussion. You can let the POC know that your data is not clearly affirming the Contract Purchase Price.

"The appraiser initiates the procedure by alerting the contact person that the appraised value appears to come in under the sales price. The appraiser should not discuss the appraisal contents except to explain that the comparable sales located by the appraiser do not adequately support the sales price. The contact person then has two business days to provide additional sales information in support of the sales price. Verification of all closed sales is required (pending sales may be offered, but can only be used as additional support)."
 
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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Tidewater is not specifically a value related discussion....at least not a detailed discussion. You can let the POC know that your data is not clearly affirming the Contract Purchase Price.

"The appraiser initiates the procedure by alerting the contact person that the appraised value appears to come in under the sales price. The appraiser should not discuss the appraisal contents except to explain that the comparable sales located by the appraiser do not adequately support the sales price. The contact person then has two business days to provide additional sales information in support of the sales price. Verification of all closed sales is required (pending sales may be offered, but can only be used as additional support)."

Price related . But price is value related.

So yes. Your doing good. I like you.

It's like seeing a sale and the homeowner had two houses and needed to sale one bad quick. Price is value related.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
I have a VA assignment that is due Feb 27, the lender called today asking if I could submit the report by Feb 16, telling me if they don't receive the report by then they will lose the loan or something in that matter. Why is that my problem. The VA requires the report to be submitted by a certain date am I obligated to get the report in 2 weeks before the due date because the loan officer messed the order date up. The property also needs a handrail installed and the loan officer wanted to know a list of repairs before the report is submitted so they can get started on them I'm ok with that however I forgot about the handrail needed and just now told her she's getting mad at me. Do I have to tell the lender a list of repairs before the report is submitted?

How could you be 2 weeks before the due date?

I am going to assume the inspection was delayed by somebody? How could you have a VA report due Feb 27th?
 
Last edited:

Kitarkus

Junior Member
Joined
Nov 15, 2006
Professional Status
Certified Residential Appraiser
State
Kansas
Sounds about right...depending on the region. 10 days for VA is not uncommon.....10 days refers to business days only (excludes weekends) and further excludes Federal Holidays (President's Day).
 
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